Please Relax About the FBI News..

[20kevin20]

Yeah, those idiots
Sure thing, no one pities the thieves, it's the fact that private keys can be "hacked" that worries people. I'm afraid, most people have no idea how Bitcoin works and have too poor of a math background to figure what an insanely small probability of someone ever hacking BTC private key.
I wish people were smarter, but they're not, and, unfortunately, many seem to like all this hype news, conspiracies, and the idea of Bitcoin vulnerability.   

The idea doesn't necessarily have to be that Bitcoin can be/is hacked by authorities. In my case, I can assume that the intel have used technologies and means of data collection that aren't very.. freedom-respecting, to say the least. By that, I mean backdoors. With the right device at the right time, they might be able to get access to some backdoors giving them just the right information for a proper seizing/hacking procedure.

They have backdoors nowadays in almost anything, and I understand the anti-criminal usage but it's still scary to know that they can use almost any device you own against you if that's their will.

[pawanjain]

If most "Bitcoiners" are actually smart, they wouldn't be phased by such news; but yet here we are. A lot of bitcoin holders are simply just gamblers trying to make a quick buck.

The whole wisdom of the crypto world can fit into this sentence - because if people react to such innocent news in this way, what would happen if those who control the media really try to place a real FUD? Unfortunately, most investors have no idea about the basics - they don't distinguish Bitcoin from blockchain, a private key from a public address, and they don't realize how secure the whole thing is, means that it cannot be hacked by some miserable three-letter agency hackers.

That's exactly where the tables turn. People who know what bitcoin actually is will not be effected with such news while the others panic.
A few months ago, the Bitmex research group said that a double spend has occurred on the bitcoin blockchain.
When I heard of that news I was taken aback for a second but the next moment I thought that's rubbish (although I know it's possible).
As expected, it was a false alarm and things settled quickly. People should know what bitcoin is all about before investing it but most people are here just to make money and care less about it's tech.

[seoincorporation]

The FBI hacked the attacker's server and got access to the private keys... We all know the FBI has some tools and Zero days to do this kind of task but I'm not sure how ethical is a move like that. They are the good guys, but that gives them the privilege to hack a server and take the coins from them?

If they can do a move like that then why they don't take the funds from the narco too? That should fix a lot of problems too, there is a lot more money involved, not only 63BTC.

[Haunebu]

This is all because of the FBI raids in the past that harmed the cryptocurrency market. Their raids are basically like tweets from someone influential enough to manipulate the market.

The price of BTC has largely been unaffected by these recent events which is a good sign.

They are the good guys, but that gives them the privilege to hack a server and take the coins from them?

If they can do a move like that then why they don't take the funds from the narco too? That should fix a lot of problems too, there is a lot more money involved, not only 63BTC.

You aren't a robber if you are stealing from a thief. This is why I feel that they did the right thing in this case. The robbers screwed themselves by not paying attention to critical factors .

[Slow death]

That it why it is really important to follow the flow of the news and investigation regarding such matter to avoid the spread of panic...

let's be honest, does anyone believe that this news has any impact on the price of bitcoin or the entire cryptocurrency market? I doubt that this news was able to even make the market drop 1% of the price. the reality is that this type of news is already something so normal that no one cares about it anymore, what drives the market today are the twitters of those who we all know who is and china, and the US regulators or in case of any attack on any big exchange

The FBI hacked the attacker's server and got access to the private keys... We all know the FBI has some tools and Zero days to do this kind of task but I'm not sure how ethical is a move like that. They are the good guys, but that gives them the privilege to hack a server and take the coins from them?

they can do "anything", they just have to claim a national security issue (well at least that's what I see in the movies)

[kryme]

That it why it is really important to follow the flow of the news and investigation regarding such matter to avoid the spread of panic...

let's be honest, does anyone believe that this news has any impact on the price of bitcoin or the entire cryptocurrency market? I doubt that this news was able to even make the market drop 1% of the price. the reality is that this type of news is already something so normal that no one cares about it anymore, what drives the market today are the twitters of those who we all know who is and china, and the US regulators or in case of any attack on any big exchange

The FBI hacked the attacker's server and got access to the private keys... We all know the FBI has some tools and Zero days to do this kind of task but I'm not sure how ethical is a move like that. They are the good guys, but that gives them the privilege to hack a server and take the coins from them?

they can do "anything", they just have to claim a national security issue (well at least that's what I see in the movies)

Here is my theory on the events and how they unfolded.

Colonial Pipeline contacted the FBI as soon as they were hacked. They worked with the FBI and the FBI worked with Chainalysis. CP paid the ransom, as Chainalysis tracked the payment and the funds. They tracked it to a US based cloud server. The FBI filed for a seizure warrant of the server and its contents (private key).

DarkSide wasn't the hackers. They run a Ransomware as a Service site. They rely on 3rd parties to hack other companies. When a 3rd party 'affiliate' receives a ransom payment, it was sent to the wallet stored on the US cloud server. DarkSide then redistributes that payment to their affiliates and takes a cut of the payment for their service. This explains the lack of security on the wallet, as they aren't concerned about a wallet that usually contains such a small amount of Bitcoin.

The FBI physically seizing the server also explains DarkSide's message back in May that said their server was shut down and that their Bitcoin was moved to an unknown address. People at the time thought this was just a lie to lay low, but now it all makes sense.

[Smartvirus]

FEDs are a wonderful people but then, I still don't want to believe they've got a way to actually decode the programming behind bitcoin and wallet encryptions. For all we know, the private key in this instance could have been gotten through a willing submission from an unwilling process of interrogation. Else, I think there are more than one wallet or addresses of value in the sea of bitcoin address in the cryptosphere. With governments out laying bitcoin, the worst they could do is actually searching out for the wallet of values private key and lay waste the content. Them not doing this could be due to human rights or still because, they don't know how.
So, the bitcoin wallet and private key systems are still very safe.

[Quidat]

More you know - you panic less. That is situation about all that kind of news I think. But most of users reacting in hurry, so we have panic instantly.

We know that this market is composed of experienced and inexperienced ones which it is normal that when it comes to reaction then we would see different
perception on current news and events that do happen in the market.Whenever we do see that the community make out some reactions which arent really that justifiable at all and when noobs do able to read up then that certain thing would create some fuss which would really act as a domino effect where
it would really result into panic selling. We should know to verify everything before making action even though fundamentals like this could really make some effect in the market but it doesnt mean that it could happen anytime.

[just_Alice]

Yeah, those idiots
Sure thing, no one pities the thieves, it's the fact that private keys can be "hacked" that worries people. I'm afraid, most people have no idea how Bitcoin works and have too poor of a math background to figure what an insanely small probability of someone ever hacking BTC private key.
I wish people were smarter, but they're not, and, unfortunately, many seem to like all this hype news, conspiracies, and the idea of Bitcoin vulnerability.  

The idea doesn't necessarily have to be that Bitcoin can be/is hacked by authorities. In my case, I can assume that the intel have used technologies and means of data collection that aren't very.. freedom-respecting, to say the least. By that, I mean backdoors. With the right device at the right time, they might be able to get access to some backdoors giving them just the right information for a proper seizing/hacking procedure.

They have backdoors nowadays in almost anything, and I understand the anti-criminal usage but it's still scary to know that they can use almost any device you own against you if that's their will.

The intels probably use that on occasions, it's true, data protection has become a big problem for the past decades. But those people didn't use measures to ensure maximum privacy and security. If it wasn't for that - they wouldn't have been caught. So this story only teaches us, once again, to pay more attention as to where our data goes and who can access it from there, especially when it comes to crypto.

[Rengga Jati]

Bad news will always exist in the crypto world. Every FUD will always haunt everyone in crypto. But the difference is how we respond to it. it is undeniable that the bad news from the FBI has become a frightening specter for some people and eventually causes panic. And this is not good because panic will only cause bad things to happen again.

[Mahanton]

Bad news will always exist in the crypto world. Every FUD will always haunt everyone in crypto. But the difference is how we respond to it. it is undeniable that the bad news from the FBI has become a frightening specter for some people and eventually causes panic. And this is not good because panic will only cause bad things to happen again.

For those who have been here on this place for years then we are somewhat already naive when it comes to news like these where FUDS could just pop out from nowhere and telling those telling that and telling about something just to drag on the market down but the question is, would it really be that effective anytime? No its not but sometimes due to emotional aspect on where people really make out reactions which would really result into panic selling because they do believe that it could really make the market down and trying out to secure profits while they still can.

[shahzadafzal]

I've been seeing a lot of conspiratorial sentiment strewn through the cryptospace regarding the FBI seizing Bitcoin from a wallet owned by a group of hackers.

Many people have just skimmed the surface and jumped to conclusions by saying that the FBI has a new tech for cracking private keys/hard wallets.

Please understand this is COMPLETE misinformation. The FBI recovered the private keys from a seized server. In other words, the group was INCREDIBLY sloppy with their keys and this resulted in the FBI gaining access to their wallets.

Please rest assured there is no wallet-cracking quantum tech floating around that we are not aware about.

FBI did nothing... this is all drama and speculation. We know the Governments and feds are so scared of bitcoin and they will go to any extend to damage bitcoin reputation. Here is the possible scenarios what really could have happened.

- This was FBI stunt and part of the plan, FBI transferred some of bitcoins to their own wallet and later got it back with some media publicity. Original ransome was never recovered.
- If they had access to the private keys they did not need the court's "seizure warrant" to access bitcoins. This warrant was for stealing or in other words accessing the private keys.

It's exactly the same way as if the criminal stole the money and then later they deposited the stolen money to one of the bank accounts and FBI got access to bank and froze that bank account. Which is extremely unlikely to happen.

Any way remember never trust any exchange whether it's coinbase, binance or your third party mobile wallets. Not your keys not your coins. 

Also keep in mind even if you have access to your private keys still there is no guarantee that your "wallet service provider" also don't have the copy of your keys.

OFFLINE wallets and HARDWARE Cold storage wallets are the only safe options.

[btc78]

Bad news will always exist in the crypto world. Every FUD will always haunt everyone in crypto. But the difference is how we respond to it.

FUD is part of the market here in crypto community because there are many implications of FUD, some are making bagging of Money while others are trying to get out from the misery of investing.
Sometimes we are thankful in fud because we can purchase in discounted price.

it is undeniable that the bad news from the FBI has become a frightening specter for some people and eventually causes panic. And this is not good because panic will only cause bad things to happen again.

The Main objective why many are spamming this topic here and there is to bring down the market to follow from what Elon Musk did and now here we are fud .

[cryptomaniac_xxx]

Bad news will always exist in the crypto world. Every FUD will always haunt everyone in crypto. But the difference is how we respond to it. it is undeniable that the bad news from the FBI has become a frightening specter for some people and eventually causes panic. And this is not good because panic will only cause bad things to happen again.

Who wouldn't? but then again, you really need to read between the lines and not just jump on the conclusions here. The problem is that mostly newbies when they read this news, thought that the FBI or at least US governments has the technology to cracked everything. Not true for bitcoin, we are still secure. And if we practice safety hygiene, (which the hackers obviously didn't), our private keys are going to be safe. And this is another lesson for everyone not to blindly trust everything we read, specially coming from crypto media.

[so98nn]

Wow, FBI gaining access to quantum tech with private key cracking device that was something dazzling. There are hundreds of people who are behind such "imaginary" developments which eventually will be a failure since its highly complex garbage seed that is generated at the end.  

There is no reverse engineering neither there are footprints are generated which can lead any computing power to track down the private key.
That is the first thing which is keeping this market completely unique and running to this date.

[tyz]

Bad news will always exist in the crypto world. Every FUD will always haunt everyone in crypto. But the difference is how we respond to it. it is undeniable that the bad news from the FBI has become a frightening specter for some people and eventually causes panic. And this is not good because panic will only cause bad things to happen again.

One thing must not be forgotten in such actions. Crypto is now a multi-trillion business. There is immense interest because of how much money can be made. That's why it's no wonder that when events like this happen, someone always tries to put this in the wrong light. Bitcoin and crypto are no longer a small niche market like they were 5 or 7 years ago when everything was a bit smaller.

[kryptqnick]

I don't know what people are reading if they believe that the FBI hacked Bitcoin and cracked the private keys. When I google 'FBI bitcoin', all I can see from popular media outlets is info about seizing the wallet, and literally the first search result is named "FBI likely exploited sloppy password storage..." by CNBC. By the way, I think it's actually good that they managed to track the money and recover some of it, as it shows that Bitcoin is actually transparent. Here's a quote from The Wall Street Journal article:

Despite cryptocurrency’s reputation as a hard-to-trace medium of exchange useful to criminals and other groups that operate outside the traditional financial system, crypto experts say it is at times easier to track than hard currencies such as U.S. dollars.

[Taskford]

Bad news will always exist in the crypto world. Every FUD will always haunt everyone in crypto. But the difference is how we respond to it. it is undeniable that the bad news from the FBI has become a frightening specter for some people and eventually causes panic. And this is not good because panic will only cause bad things to happen again.

For those who have been here on this place for years then we are somewhat already naive when it comes to news like these where FUDS could just pop out from nowhere and telling those telling that and telling about something just to drag on the market down but the question is, would it really be that effective anytime? No its not but sometimes due to emotional aspect on where people really make out reactions which would really result into panic selling because they do believe that it could really make the market down and trying out to secure profits while they still can.

This is just another fud news which can easily erase out to the minds of the people and those new comers should not take this as serious matters, maybe for now we should take the adoption of El Salvador since this is more huge than thinking about the FBI issues. Bitcoin cannot be stop by them so expect that this is just been sensualize by medias to create another panic so better we shouldn't do any panic selling.